News

Two Investments Acquired in 12 Months

Acting on behalf of Cromdale and Capability Scotland Limited we have recently acquired two office investments at Heriot Watt Research Park, Riccarton, Edinburgh.

Cromdale Partners acquired Livingstone & Young House, Discovery Terrace in April 2015, the buildings having speculatively built in 2006 by Cosmopolitan Investments. The office properties extend to 9,502 sqft and 9,536 sqft respectively and are let to Babcock, Scottish Business in the Community, Pharmaceuticals Profiles Group, Aptiv Solutions, and Royal Society for the Prevention of Accidents. The asset benefits from additional land which could provide a further 10,000 sqft of space and our clients are looking at their options for this land. The price of £1.25m, equated to a NNIY of 17% on the net rent after ground lease payments are deducted.